One of the questions we come across a lot is whether or not it’s possible to lease a used car. You know you can go ahead and buy a new or used vehicle, but what about leasing a used one?
Can You Lease a Used Car?
This type of situation is a lot less common, but it’s definitely possible! In fact, it can be a particularly great option for those who want to save on the purchase of a vehicle. Leasing a used car is usually going to cost less than a new one and it won’t depreciate as quickly.
Another incentive to lease a used car is that it can help you to save on auto insurance in Utah. The value of the car is likely less which means it’s less expensive to insure.
Things to Consider
You can lease a used car from most auto dealerships although you will likely only be able to find newer models that are around two to three years old. They also have usually been leased by another driver previously, but will have been thoroughly inspected for any potential issues. These issues are also usually addressed before the dealership will lease the vehicle to another person.
It’s also possible to take over a lease from someone who already has one. While this can be an easy option, it usually means slightly less flexibility. You’ll probably have to take on the terms of their original lease. If those terms suit you, then this is definitely a great option to consider!